Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
QIB Home Finance for Qatari Nationals QIB Home Finance for Qatari Nationals Minimum Salary: QAR 5,000 Salary Transfer: Yes Early Settlement Fees: No Maximum Term: 20 Years Flat Rate: 3.0% Reducing Rate: 5.5%
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QIB Home Finance for Qatari Nationals Features:

-Takaful insurance for the finance -Long repayment period of up to 20 years -Attractive profit rates -Financing up to 70% of the property's value -Shari'a-compliant -No administration charge -No guarantor required -Fixed monthly installments with transparent service -Ability to pay other finances concurrently -24-hour sales team and customer service -Available for approved and non-approved companies -Maximum loan amount depends on the salary and social allowance

Eligibility:

-Down payment required - 30% Down Payment -Minimum Salary - QR 5,000 -Maximum Monthly Installment per month - 75% of the Basic Salary and social allowance -Age between 18 - 65 Years -Employment Status shoudld be confirmed

Documents Required:

-Salary certificate -Valid ID for Qataris; residency permit and passport for expats -Evaluation of the property through two companies accredited by QIB, and the subsequent reports -If there are payment resources available other than the applicant's salary, documents need to be provided -Proof of ownership -Copy of the map

Representative example:

If you borrow QAR 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay: Payment per month – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 10,710

Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
International Bank of Qatar - Mortgage for Qatari Nationals
Minimum Salary
QAR 20,000
Reducing Rate
4.5%
International Bank of Qatar - Mortgage for Expatriates
Minimum Salary
QAR 20,000
Reducing Rate
5.5%
Masraf Al Rayan - Home Finance
Minimum Salary
QAR 10,000
Reducing Rate
8.08%
HSBC - Home Loan
Minimum Salary
QAR 15,000
Reducing Rate
11.7%